Teco Management Group News

According to the Chronicle Herald, a deal to save Quebec’s Davie shipyard hasn’t changed Irving’s plans to bring a $2.1b navy shipbuilding project to Halifax. But one of the new owners of the Quebec City yard isn’t ruling out the possibility that the three 28,000-ton joint support ships will be built in Quebec. Navamar and its senior Norwegian partner, Teco Management Group, announced a deal Thursday to purchase Davie. The transaction is slated to be completed by the end of June, allowing Davie, to resume operations. Davie is the largest shipyard in Canada and could build the vessels without making changes needed at the Halifax facility. Two groups, Canadian North Atlantic Marine Partnerships and BAE Systems Inc., are seeking to build the three ships in Newfoundland and Labrador.